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  • Russian finance ministry sees gold as alternative to USD - IFX

.91 for usdchf finally?
Euro to 1 midterm
Quoting Vancarbon
Toilet paper is an alternative to the US dollar .
You can take a photo of your poo on toilet paper, then NFT it.

I suspect doing that with US dollar would be wire fraud.
There were reasons the gold standard was dropped, maybe russia should re-think their comment OR maybe they want world trade to also go back 100 years
Putler and Lavrov & finance minister have saw this myth busters and think they can now polish they brain farts
to hard currency.

https://www.youtube.com/watch?v=3rax27_ZIVM
Nowadays cryptocurrencies are alternative to USD.
Dragon Shepherd
gold can be good for short therm but long term, 0.7 percentage point per year more than inflation over the past two centuries.
Quoting Vancarbon
Actually , i think it's a viable alternative . Russia will be increasing trade with China ten-fold after this . I'm sure China would gladly welcome the gold .
What Putin doesn't understand is that China will exploit him beyond his worst nightmares. Chinese are smart and they never overpay. Once they see Putin is cut from the West for good, they will pay as little as possible for everything Russia exports to them. Russia will barely make any profit. And on top of that, Putin is a noone to them, they will treat him worse than the West ever did. He will become China's little bitch.
Everyone can see the chart, but only a few can actually read it.
From$1toMillion EA All Time Return: 21.4%
Quoting Vancarbon
Actually , i think it's a viable alternative . Russia will be increasing trade with China ten-fold after this . I'm sure China would gladly welcome the gold .
There will be for sure more sanctions imposed to countries who trade with Russia using gold. Ultimately, any kind and form of trading with the aggressor Russia will be prohibited and punished. There is no place to hide.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Everything is better than USD, USA only printing money to get some false economy grow, they should bankrupt long time ago, they will anyway
Quoting OnlineAddict
{quote} What Putin doesn't understand is that China will exploit him beyond his worst nightmares. Chinese are smart and they never overpay. Once they see Putin is cut from the West for good, they will pay as little as possible for everything Russia exports to them. Russia will barely make any profit. And on top of that, Putin is a noone to them, they will treat him worse than the West ever did. He will become China's little bitch.
Seems like a lot of folks have that idea, their crude is trading way under the market I read, and they have to deliver it now...
Look Sharp/Trade Tight
the real reason why gaddafi had to be deposed..the day he proposed a gold backed dinar as a single african currency backed by 130tonnes of libyan gold after being made the AU chairman.. he was first to be characterized as a mad despot,a murderer and all sorts of stuff..saddam too,the moment he declared all iraqi oil sales will be denominated in euros and not dollars the same script was employed..the same script is being applied on putin..notice there is no attempt to address one of putins main demands..the demand that ukraine be a neutral state as regards NATO..he has indicated he would have no problem with ukraine being an EU member but not nato..the usa almost got into a nuclear war with russia in the 60s when kruschev attempted to deploy nuclear missiles on the island of cuba facing florida..and russia had to back down..60 years later and the shoe is on the other foot.. why wouldnt putin react in similar way
Carpe Diem
PROC will look after PROC's interests. Commercially, yes, they will take advantage but they won't do so on the basis of helping Putin: far from it. Historically Russia and PROC have NOT seen eye-to-eye and that hasn't changed, despite any alternative interpretation of trade deals. PROC's interests are actually served best by a stable world order and culturally they're not inclined to set up external opponents. Putin is an unreliable neighbour to PROC. The democratic world would start to treat PROC differently if it were to do anything other than assist in bringing this conflict to an end, so don't rule out PROC becoming the most likely peace-broker.
China has to be a winner on this whole thing, even if its just falling off the radar for a minute or two.
Look Sharp/Trade Tight
Quoting Vancarbon
{quote} I think Putin knows this full well and expects some exploitation . It's a trade-off and short term solution to circumnavigate the sanctions on a temporary basis . We have no idea if they'll make any profit as we aren't privy to negotiations . Putin is way smarter than posters give him credit for , irrespective if you like him or not . I want a swift conclusion to what's happening now and diplomacy to take precedence
Van I dont dispute that Putin is smart. And possibly smarter than some folk here give credit.
On the SinoRussian issue I agree. SinoWestern relations are much more important to the Chinese economy howeer strained the currently are, than Russian relations. If you think Putin is smart - hes small time compared with Xis pragmatism.
However.. back to Putin ....IMHO he has made a major misjudgement about the strength and consequences of the global reaction to his invasion of Ukraine has provoked. (or the response of the normally ambivalent EU where he has succeeded a unity that EU leaders have rarely achieved.)
I also am persuaded that the Bidens brand of quiet backroom old fashioned diplomacy has been a major factor in achieving this outcome, in comparison to the twitterocracy of the previous administration.
Whatever.. as this tragedy unfolds, the damage to Putins reputation both domestic and globally, and the extent of economic damage to Russian economy arising from Putins misjudgement is incontrovertible and will be long lasting.
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  • Posted: Mar 2, 2022 3:11am
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     Newsstand
    Category: Low Impact Breaking News
    Comments: 15  /  Views: 4,491